Public debt interest increased 10% in 2022 to reach JD1.76b

dept depts loan loans
(File photo: Jordan News)
AMMAN — The Parliamentary Finance Committee’s report on the 2023 budget, based on the government’s final financial accounts for 2022, showed that the interest on public debt for last year increased by 10 percent to reach JD1.755 billion.اضافة اعلان

Meanwhile, the Kingdom’s total public debt rose to JD38.587 billion by the end of 2022.

The report, which was reviewed by Al-Mamlaka TV, showed an increase in the public debt-to-GDP ratio, to reach 111.4 percent at the end of 2022.

While the 2022 Budget Law estimated the budget deficit would stand at JD1.740 billion by the end of the year, the actual figure was JD1.860 billion, or 5 percent of GDP.

Meanwhile, Jordan’s gross domestic product grew by 2.7 percent by the end of 2022.

Current year targetsFor 2023, the target growth for the gross domestic product is set at 2.7 percent, and, according to the committee’s analysis, government spending is expected to grow by 0.6 percent, investments by 2.3 percent, exports by 5 percent, and consumption by 5.3 percent.

The Finance Committee held meetings with 104 ministries and agencies whose budgets were included in the Draft Budget Law for 2023 to discuss and study their allocations. It also held a round of meetings with various economic sectors in the Kingdom.

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